Advice to Small Business...

My friend Mike Spinney asked me to contribute to a piece he's working on. Initially, I thought we wanted advice for businesses starting out. Turns out, he wanted specific advice on issues of privacy...

For what its worth, (and so it doesn't go completely to waste) I'm sharing my thoughts here...

• Be Flexible – As you ramp up your business, be prepared to change you model frequently – and sometimes, drastically. When you get started, assumptions you make about the marketplace are often as likely to hit the bullseye as the darts you used to throw at some late night party in college. Sometimes you’ll ‘accidentally’ hit the mark perfectly; as often as not those assumptions will be way off. And that’s ok. The key is to continue to refine those assumptions as you learn and grow as an entrepreneur.

• Look for Partnerships, NOT mentors - Many entrepreneurs start out looking for others who can help them. It’s never a bad thing to learn from others with more experience. However, if you want someone with more experience to take you seriously, you need to figure out what you can bring to the table to help them as well. While it may not always be a 50/50 partnership, nobody is going to put much energy in something where they are giving 90% and getting 10% in return.